Pennant Capital’s Fournier - Adds Again, USAP Down 20%
As of April 3, 2013, Fournier, increased his Universal Stainless & Alloy Products (USAP) position by 0.62% for the eleventh time in 2013. Fournier added 7,000 shares at an average price of $34.92 per share, for a total of 1,133,021 shares after the trade. Ownership is filed as Pennant Capital Management and the Broadway Gate Master Fund Ltd. Fournier’s hedge fund Pennant Capital is listed as 10% owner of Universal Stainless & Alloy Products.
Pennant Capital Management’s portfolio lists 42 stocks with a total value of $4.7 billion, and a quarter-over-quarter turnover of 10%. The Pennant Capital portfolio heavyweight sectors are currently technology 28.7%, consumer cyclical 17.7%, and healthcare 13.7%.
Fournier’s USAP holding history shows an average share price of $38.07 with losses every quarter since he first bought in second quarter 2011:
Other Gurus John Keeley and Scott Black sold out their USAP stakes as of the quarter ending June 30, 2012. Check here for other Guru trades of USAP.
Universal Stainless & Alloy Products (USAP) is headquartered in Bridgeville, Pa. The company manufactures stainless steel, an iron and chrome alloy, as well as tool steel and other alloys. With a market cap of $234.47 million, Universal Stainless & Alloy Products has a P/E ratio of 15/8 and a P/S ratio of 1.0. In the last decade, except for 2004, Universal Stainless Steel Products shows positive earnings in eight out of 10 years and a positive operating cash flow. Influenced by a highly competitive global steel industry, Universal’s margin fluctuations are considered typical of steel companies.
Here are the company’s 10-Year Financials:
[ Enlarge Image ]USAP data by GuruFocus.com
Take a look at Guru Alan Fournier’s top buys, top sells and top holdings.
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